Australia Tightens Crypto ATM Rules to Combat Fraud

To curb scams and enhance anti-money laundering compliance, Australia has imposed new operating rules on crypto ATM operators. These rules include a daily cash deposit and withdrawal limit of A$5,000 ($3,250), as well as the mandatory display of scam warning messages at machines to alert users about potential fraud. urthermore, providers must conduct more thorough customer checks and enhance their transaction monitoring for suspicious activity. The new regulations come following a task force investigation into crypto ATM usage across the country. The investigation revealed that older individuals (over 50) are heavily involved in transactions, with those aged 60 to 70 accounting for a significant portion of the total value.